Keo PLC — Director's Dealing 2015

Oct 12, 2015

ANNOUNCEMENT

KEO plc, in accordance with the provisions of article 157 of the Securities and Stock Exchange Law, announces that on 9 October 2015 has completed the sale to the Holy Archbishopric of Cyprus, which is a shareholder of the Company with shareholding in excess of 10%, the total number of 930,000 ordinary shares of Vasiliko Cement Works Public Company Ltd.

With regards to the above transaction and in accordance with the provisions of the above mentioned Law, the Company announces that:

• 1. The business reasons for the sale were the liquidation of available for sale investments in order to improve the liquidity of the Company.
• 1. The total consideration of this transaction, which has been determined on a commercial basis in accordance with the current market values, amounted to €1,116,000 (€1.20 per share) and has been paid entirely in cash.
• 1. This transaction resulted in a profit on disposal of available for sale investments of $\epsilon$ 224,877. At the same time it resulted in a transfer of $\epsilon$ 475,808 from the revaluation of available for sale investments reserve to retained earnings. This transfer was in accordance with the International Accounting Standards and relates to cumulative revaluation gains previously recognized in other comprehensive income.
• 1. The transaction does not affect the interest of the Company's Secretary or any "defined person" in accordance with the definition given in article 137(3) of the Securities and Stock Exchange Law, other than the interests of the Holy Archbishopric of Cyprus which is a shareholder of the Company. The transaction was completed on a commercial basis in accordance with the current market values.
• 1. The Company does not anticipate a significant change in its future financial results and future prospects as a result of this transaction.

12 October 2015